Church of England ends investments in heavily polluting fossil fuels
Source: The Guardian
Church of England ends investments in heavily polluting fossil fuels
Move by church’s £9bn fund to divest £12m from tar sands oil and thermal coal
reflects more interventionist stance and sets lead for other institutional investors
Adam Vaughan
Thursday 30 April 2015 22.30 BST
The Church of England has pulled its money out of two of the most polluting fossil fuels as part of what it called its moral responsibility to protect the world’s poor from the impact of global warming.
In a move approved by the church’s board on Thursday, it divested £12m from tar sands oil and thermal coal – the first time it has ever imposed investment restrictions because of climate change.
The church’s huge £9bn investment fund and leadership on climate change has made it the target of a global campaign calling for organisations to divest from fossil fuel companies. Campaigners hailed the move, which they said in effect “read the last rites” to the two industries.
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Read more: http://www.theguardian.com/environment/2015/apr/30/church-of-england-ends-investments-in-heavily-polluting-fossil-fuels
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